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'" 160~)C:~ i . policies of the City. e. Notwithstanding any of the foregoing, the City shall not be obligated to enter into any Developer Agreement (i) if the improvements required by the resolution granting approval of the preliminary plat are not allocated among the methods at (a), (b), (c) and (d) above in a manner satisfactory to the City Council, or (ii) if the Developer does not file a bond or deposit cash in escrow, or does not deliver a Letter of Credit, all as heretofore described, or (iii) as to any improvements, if the City Council determines that the City must borrow money to pay its costs of construction under such Agreement and such borrowing is inadvisable, or (iv) the City Council, after review of financial and other information required of the Developer, determines, in its sole discretion, that there is an unacceptable level of risk that assessments for improvements will not be timely paid. 1008.24 - Variances. All requests for variances from the provisions of this Ordinance shall be made and decided in the following manner: 1. The subdivider shall file a request in writing for a variance with the City Clerk, together with the required fee. The written request shall be accompanied by information as to all changes that will result from the variance therein requested. . 2. The City Clerk shall refer the variance request to the Planning Commission for public hearing held in the same manner as provided in Section 1008.08(1)(b)(iii); said hearings may be held simultaneously. The Planning Commission shall submit its report and recommendation to the City Council. Said report shall specifically consider the findings set forth in Section 1008.24 of this Ordinance. 3. The City Council at its next regular meeting after receipt of such report and recommendation shall make its decision at the same or a specified future meeting thereof. 4. The City Council may grant a variance only upon a finding that an unusual hardship exists, and specifically that: a. The hardship is not a mere inconvenience; b. The hardship is caused by the particular physical surroundings, shape or topographical conditions of the land; c. The condition or conditions upon which the request for a variance is based are unique and not generally applicable to other property; d. The hardship is caused by this Ordinance and not by any persons presently having an interest in the land; and . e. The granting of a variance will not be substantially detrimental to the public welfare or to other land or improvements in the neighborhood of the land, and is in accord with the general purpose and intent of this Ordinance. 1008.26 - Restrictions on Filing and Recording Conveyances. 24.